The Cryptyk Token (CTK) is the new digital currency for ultra-secure cloud storage applications from Cryptyk Inc. CTK is a utility token that leverages the permanent immutable nature of consensus driven blockchain technology to underpin a new independent digital economy for secure, private cloud storage applications. The primary function of the CTK Token is for the processing, auditing and logging of cyber-security verification tasks for Cryptyk’s SaaS Cloud Storage and Security platform. When initially listed in 2019 the CTK smart contract was built on top of the ERC-20 Ethereum protocol to establish initial liquidity and a trading regime. However CTK is blockchain agnostic and can sit on top of public protocols such as Bitcoin and Ethereum, and also private permissioned protocols such as Hyperledger. This effectively makes CTK tokens “future-proof” against the potential availability of improved blockchain protocols, and applicable to enterprise, business and consumer applications. 

The key to Cryptyk’s decentralized storage and security technology is that it leverages the speed and scalability of major centralized storage providers, while also leveraging the immutability of the blockchain for security auditing of all user activity. Uploaded files are first encrypted and then split into 5 separate randomized pieces and then encrypted a second time. Each doubly encrypted randomized file piece is then stored separately across 5 major cloud storage providers such as IBM , Google or AWS. Every user access event, every file modification event and every file sharing event is permanently stored on the blockchain for security analysis and monitoring.